Danville CA Homes for Sale | Danville Market Update April 2017
- Inventory rises 35% – after 42% increase in March
- Pending sales increase only 8%
- Prices steady – homes selling for just over list
- 18 days on market
Inventory took another big jump in April, increasing 35%. The number of homes for sale has nearly doubled since February. Sales continued to increase as well, but not at the same pace as supply. Pricing has been steady recently but things are heating up, evidenced by the fact that April’s sales were for an average of 101% of the asking price. Time on the market remained low at only 18 days for homes sold in April.
April ended with 96 homes actively listed, 15 more than March’s 71 and two more than a year ago. 69 sales went pending during April, up only five from March’s 64 but a 20% increase from March 2016’s 53. The rapid rise in inventory left a 1.4 month supply at the end of April, up from 1.1 months at the end of March but below the 1.8 month supply a year earlier.
April’s median sales price was $1,267,000, a slight increase from $1,260,000 in March and 4% more than April 2016’s $1,215,000. The price per square foot dipped in April, from $484 in March to $473. That was also 4% lower than a year ago. The average sale in April was for 101% of the list price, compared to 99% in March and 101% in April 2016.
The tables below provide further details on the current Danville CA market compared to prior periods, as well as a look at different market segments.
Sellers: It is a great time to be selling a home in Danville. Inventory is tight and demand remains strong, especially for prime properties in excellent condition that are priced right. Proper marketing and staging will be important to getting the most for your home. While multiple offers are still occurring for a few select properties, most other homes have to be priced strategically to get top dollar. More than ever, having a highly competent agent who knows the Danville market will be critical to your success
Buyers: The current market is fairly balanced, especially compared to the previous few years. Prime properties are still getting a great deal of attention and even multiple offers on occasion. Being prepared to act quickly will be the key to getting the home you are looking for. Having a professional Realtor who understands the Danville market and your own strengths as a buyer will put you in a strong position to secure the home you really want.